The pressure sensitive tapes market size was valued at USD 59.7 Billion in 2020 and is projected to reach USD 97.7 Billion by 2028, growing at a CAGR of 7.4% from 2021 to 2028.
The pressure sensitive tapes market is growing actively with the growth of major end-user industries. The global pressure sensitive tapes market share was valued at USD 59.7 billion in 2020. Pressure sensitive tapes have good advantages in the market as they are low-cost materials having application in a wide range of industries. Unlike other sealing adhesives, these tapes are ready to use without the application of solvent or heat treatment.
Pressure sensitive tapes adhere to a surface with the help of non-driable glue by applying slight pressure. Their flexible form allows their use in sealing and labeling work on products of different forms and sizes. Moreover, these tapes themselves come in different forms to suit the needs of different industries like logistics, labeling & packaging, healthcare, automotive, etc. The global pressure sensitive tapes market is expected to grow at a Compound Annual Growth Rate (CAGR) of 7.4% over the forecast period 2021-2028.
The growth of the automotive, food & beverage, and e-commerce industry is creating a favorable environment for the growth of the tapes market. The market will get a boost with the development of eco-friendly tape material and more efficient glue. The global pressure sensitive tapes market value is expected to be worth USD 97.7 Billion by the end of the current forecast period in 2028.
Covid-19 had a serious impact on the global pressure sensitive tapes market. The poor performance of major end-user industries like food and beverage, packaging, automotive led to a decline in demand for these tapes. The large-scale constriction of the labeling & packaging industry, the major end-user, decreased the growth rate sharply.
The closure of production units to curb the virus spread led to a fall in the production rate. Meanwhile, travel restrictions also hampered the supply chain. However, the market is showing a quick uprising after the removal of those restrictions.
The major global companies playing a key role in the pressure sensitive tapes market are :
The increasing use of pressure sensitive tapes in different industries like automotive & construction is the major factor driving the growth of the global pressure sensitive tapes market. Moreover, the increasing global trade and growth of the packaging industry are also fuelling the market growth. The rise in sales of e-commerce companies and the growing retail industry is likely to boost the growth of the global pressure sensitive tapes market.
The pressure sensitive tapes have wide applications ranging from household use to industrial use. Therefore the growth of different end-user industries is creating a positive impact on the market. The growth of the labeling industry is also generating huge demand for pressure sensitive tapes. Moreover, the ongoing research activities to develop renewable and eco-friendly tape materials will also boost the market growth.
Rising environmental concerns are the major hindrance in the growth of the pressure sensitive tapes market as plastics are the major manufacturing material for tapes. Moreover, the health issues regarding rubber adhesives used in sticky tapes are also a major pitfall in the growth of the global pressure sensitive tapes market.
Pressure sensitive tapes, also known as self-adhesive tapes, are thin and flexible strips having a single or double-sided coating. These tapes self-stick to the surface with the application of minimal pressure and do not require any solvent, water, or heat for activation of adhesive. There is a great use of pressure sensitive tapes in works like bonding, sealing, labeling, automotive decoration, health care works, and many more.
Pressure Sensitive Tapes contain Pressure Sensitive Adhesive that is a non-reactive adhesive that forms bonding with other surfaces by application of pressure. These tapes are easy to use, cost-friendly, electricity resistant, and have several other advantages. These tapes adhere to a variety of materials like paper, glass, wood, plastic, and metal. Moreover, it helps in bonding different surfaces without incompatibility concerns.
The specific objectives of this market report on pressure sensitive tapes market are given below:
by Backing Material
The polypropylene segment holds the major market share owing to its low cost and beneficial properties. Polypropylene has high flexural strength and is also resistant to moisture and degrading chemicals. Moreover, it has a high electrical resistance that widens its usability.
By Adhesion Type
The single-sided segment holds a major market share of about 80%. These tapes have greater application in bonding, sealing, and labeling. The medical tapes which account for a major market share are also single-sided. Single-sided tapes are the most employed type in the packaging industry for carton sealing and similar works.
The logistics segment dominates the application segment of the global pressure sensitive tapes market. There is a huge demand for these tapes in packaging and labeling works. Pressure sensitive tapes are used in sealing cartons, labeling products, water-resistant packaging of furniture goods, etc. The rise and rapid growth of e-commerce industries are generating huge demand for pressure sensitive tapes worldwide.
The different regional markets for the global pressure sensitive tapes market are:
Asia-Pacific is the largest regional market segment of the global pressure sensitive tapes market. This region is the largest manufacturing hub in the world with high demand for sticky tapes from the labeling and packaging industry. The rapid growth of the major end-user industries in this region like automobile, e-commerce, healthcare has been favorable to the market growth. The rising disposable income of people is also set to bring positive results for the pressure sensitive tapes market in this region.
North America follows Asia-pacific owing to its large industrial manufacturing base. Food and beverage, automobile, logistics, and healthcare are the major demand generators for pressure sensitive tapes in this region.
Europe also accounts for a significant share in the global pressure sensitive tapes market. The high disposable income of people generates demand for neatly packaged products, therefore of sticky tapes. The prevalence of automobile and aircraft manufacturing hubs in France and Germany also creates demand for pressure sensitive tapes. The regional market in Latin America Middle East Africa is expected to grow moderately over the forecast period.
This report will be beneficial for every stakeholder of the pressure sensitive tapes market such as :
This report provides an in-depth analysis of the pressure sensitive tapes market in terms of current value and future forecast. This report also highlights the problems and prospects of the pressure sensitive tapes market. Moreover, the technological analysis section of the report will help in knowing the product and its market prospects. Furthermore, this report contains a detailed analysis of every segment of the given market for the current forecast period. This report has also identified the key players and the current developments in the pressure sensitive tapes market.
|Market Size||2028: USD 97.7 Billion|
|CAGR||7.4% CAGR (2022-2028)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Backing Material, Product, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Avery Dennison Corporation, 3M Company, Berry Plastics Corporation, American Biltrite Inc., Jonson Tapes Limited, and Adchem Corporation. Nitto Denko Corporation, Intertape Polymer Group, Advance Tapes International Limited, Tesa SE, LINTEC Corporation, Scapa Group, Shurtape Technologies, LLC, and Zhejiang Yonghe Adhesive Products Company Limited|
|Key Market Opportunities||
|Key Market Drivers||
The pressure sensitive tapes market projected to reach USD 97.7 Billion by 2028
Globl pressure sensitive tapes market is expected to exhibit a strong 7.4% CAGR over the forecast period from 2022 to 2028.
Leading players in the pressure sensitive tapes market include Avery Dennison, 3M, and Adchem Corporation, among others.
Asia acific is likely to dominate the global pressure sensitive tapes market.
The growing packaging sector is likely to be a major driver for the pressure sensitive tapes market.
The increasing use of pressure sensitive tapes in different industries like automotive & construction is the major factor driving the growth of the global pressure sensitive tapes market.